It’s hard to watch a share get smashed down relentlessly,...

It’s hard to watch a share get smashed down relentlessly, although I’ve been buying as I see good value at this price.

While I have enough in my LT portfolio (Super), I’ve been buying for both short and mid-term holds i.e. firstly I’m expecting an increase post demerger selldown and approaching LLL launch, and then again following the Q2 results and as the value from LLL increases.

There are a few caveats to this i.e. Mike needs to have achieved/exceeded production guidelines (it was a low hurdle so overachievement is expected), and show that he is able to reign in spending and display prudent cost control now that the cut-back of the Superpit should be finalised.

On a side note, once LLL launches, just keep in mind that (roughly) every 5c increase in the LLL share price should also generate a 1c increase in the FFX share price (at least until we start getting back to a reasonable value for FFX).